EUR/CHF

Had been enjoying scalping the pair this week after the move from 1.2080 to 1.2110-15 where's my always exit.
But now, after some 8 hours of opening new Super Super Heavy Longs at 1.2103, am sitting on my hands to not exit it on the same area of 1.2110-15, as I don't trust the SNB in doing anything but hoping in this important period they could wake up

I think the SNB may leave us sad again today. I bet Thomas Jordan just woke up before an hour and a half from the decision.
He'll trash talk something like: hey guys no worries everything under control, challenge us as long as you want. Want to drag it to 1.20, let it be, we'll spike it some 10-20 pips each time it nears the 1.20

Dudes, if any of you finds a person more calm than Jordan and his folks, give me a PM ASAP, to win a Great Award

Im heavy long aswell after scalping this pair like crazy I expect it to go down a litle today but I dont want to miss out if the pairs shoots up north.

Wonder if this is going to get past 1.2114 this time?

Some levels to consider exiting at if no intervention happens but maybe Negative Rates or some positive decision, starting with the 1.2155-70 to 1.2225-35 to 1.2285-90 and ending at 1.2385-90. A spike up here will give us 1.2570 and 1.2650 mainly!

On the downside, if utmost determination stays alone, do not enter new longs before 1.2060s 1.2050 and 1.2020s.

Swiss trade balance Aug CHF +1.398bln vs +3.9bln prev

 

1. exports m/m -0.7% vs +0.3% prev revised up from +0.2%
2. imports m/m +6.4% vs -9.0% prev revised up from -10.2%

BS statement causing the pair to fall again. FFS

Strange strategy of SNB just to talk about lower libor rate and they will consider all options, and then do nothing...they know that they will force pressure to the donwside with keeping everything as before.

Short at 1.208

game of patience, at least expected volatility dropped

Agree Just keep the orders if they are red.

Where are you boys buying your next longs. Do you think 1.205 is too low or can we get there?

SNB's wording has changed and became more hawkish compared to June statement. Was:


Now:


Should be bullish for EUR/CHF.

so much about those leaving peg comments

Im very glad i cleared my head by being the only bearish person here that i got out of most of my EC and traded jpy instead.

With snb confirming not reducing interest rate as per my previous comments, EC is done. It will be a long winter for all those holding EC length.

Just open any macro econ textbook you will know a currency cannot have all 3:

Free capital movement
Free monetary policy
Fixed exchange rate.


The snb is ABSOLUTELY out of their mind by not following ecbs course to cut interest rate or announcing any ACTUAL measures to cope with market force acting agaist the cap.

Its the end. Good luck to EC bulls and enjoy the negative swap rate eating into your portfolio like cancer into a patient.

The ride to 1.2000 is absolutely gauranteed. I say now there is a 50% chance this cap will end ugily.... at least for most retail investors.

Well, always expect the unexpected.

Everybody was prepared for lower interest rate, and so it's not comming now.
I think SNB will cut rates in 3 months probably, depending on how close it will go to the peg.
maybe they thoguth, ok it's above 1,21...so no reason to shoot all weapons they have, they always want to have some options left, just in case.

nothing new ....still a good deal to buy now...low risk trade .
It will go up when EURUSD will go down, following USDCHF

still a good deal indeed with a max loss of 68 pips. while short term gains might not be huge, we should expect a rally in this pair in the next few weeks.

Of course the other option is to go Short and take those 68 pips [or some of them] on the way down.

Don't buy against resistance, or sell on support.
1,2050 is strong I guess, and it is no good risk reward ratio, if you place a stop at 1,2090 or 1,2115. (and of course knowing that SNB may act if it goes significant down below.)
Main selling pressure today may come from short term trader who speculated for a cut of interest rate.